Thailand franchise market set for growth
Thailand franchise consultancy Gnosis Co expects a healthy market for franchises in the country.
Gnosis MD Sethaphong Phadungpisuth said more than 50 chains from both local and international brands are exploring the market this year following measures to ease regulations on the part of the Business Development Department.
“The Thailand franchise market will become more active this year. We expect the overall number of new franchise brands both from abroad and the domestic market that will open their franchise in Thailand this year to increase by 10 per cent to about 630 brands”, he said.
According to Gnosis, some brands have chosen Thailand as a springboard to other Asean countries, in particular Myanmar and Laos.
Among those diverse brands set to start operations in Thailand this year include Taco Bell, The Edge Learning Centre, and Singaporean hygiene and disinfection products firm Sureclean. Additionally the number of Taiwanese milk tea chains continues to increase in the territory.
Franchise business in Thailand is estimated to be valued at THB250-300 billion (US$7.84 billion).